Investment News back issues from January 2008:
DARREN TEDESCO.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Davis D. Janowski DARREN TEDESCO, Director of business systems and strategic development, Commonwealth Financial Network, Waltham, Mass. Assets under management: $50 billion General outlook: The "baking'' of best practices into software ...
KAREN TYLER.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Dan Jamieson KAREN TYLER, President, North American Securities Administrators Association, Washington North Dakota securities commissioner, Bismarck, N.D. General outlook: NASAA president Ms. Tyler is worried about how investors might ...
BRIAN KAZANCHY.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Sara Hansard BRIAN KAZANCHY, Wealth manager, investment committee chairman, RegentAtlantic Capital LLC, Chatham, N.J. Assets under management: $1.8 billion Forecast: Market conditions will be "fairly difficult, particularly early in the ...
New regs, lawsuits help make annuities less restrictive; Simplified products seen as positive for industry and consumers.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Darla Mercado Last year marked a major shift for the insurance industry, as new regulations and a couple of lawsuits made annuity products less restrictive to investors. Industry experts predict that 2008 will be the year of the consumer-friendly annuity as ...
BRIAN SMILEY.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Bruce Kelly BRIAN SMILEY, Executive vice president/president-elect, Public Investors Arbitration Bar Association, Norman, Okla. Partner, Smiley Bishop and Porter LLP, Atlanta, Georgia General outlook: Look for greater examination of the ...
Stable value funds beat money market, bond funds over long-term; Stable value funds average 6.4% gain over past 19 years, says study.(News)
Jan 07, 2008 ... Byline: Ilana Polyak It might be tempting to retreat into the safety of money-market funds or certificates of deposits in times like these, but another investment could be better suited for such a flight to safety without sacrificing too much return. Since 1988, ...
Community investment goes mainstream; Firms carve out a small niche to support underserved areas.(News)
Jan 07, 2008 ... Byline: Deborah Nason Investing in disadvantaged communities is going mainstream, with a variety of investment vehicles springing up. A subset of socially conscious investing, community investment "directs capital from investors and lenders to communities that are ...
Technology efforts this year might lure people to the web; Focus on integration of services and customized online applications.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Davis D. Janowski Online delivery of software tools and data to advisers will be the major focus of 2008 technology innovations, industry experts say. Service providers, including broker-dealers and custodians, as well as software vendors, plan to improve data ...
Change principal-trade rule with caution.(Viewpoint)
Jan 07, 2008 ... The Securities and Exchange Commission must carefully monitor its temporary proposed principal-trade rule, which took effect Sept. 30. It's obviously important to see whether the rule works because there are evidently some folks in the industry looking to pressure the SEC to make this ...
JOHN BURNS.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Brooke Southall JOHN BURNS, Chief executive, Burns Advisory Group, Oklahoma City, Okla. Assets under management: $350 million Forecast: The global economy is in good shape and stocks will do well, Mr. Burns said. He doesn't think the ...
JOHN M. NOWICKI.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Dan Jamieson JOHN M. NOWICKI, President, LCM Capital Management Inc., Chicago Assets under management: $40 million Forecast: Mr. Nowicki is a contrarian. He's more optimistic about the economy than many experts, who have been bearish of ...
Wealth management may face growing pains; 'Human capital' poses challenges.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Charles Paikert The wealth management business is still going gangbusters but may face growing pains this year. "There's been three years of really good times, and when it comes to the retail-investment business, the verdict is in: Wealth management wins,'' ...
Boosting retirement income; Help clients increase income in non-traditional ways so assets can last longer.(Retirement Watch)
Jan 07, 2008 ... Byline: Don Seibert While the number of millionaires grows, it's sobering to note how many Americans are not especially wealthy. Consider that 75% of those turning 50 have less than $25,000 in total assets, according to a recent study from the U.S. Census Bureau. ...
ALAN R. LEIST JR.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Bruce Kelly ALAN R. LEIST JR., Chief executive, Strategic Financial Services LLC, Utica, N.Y. Assets under management: $1.1 billion Forecast: Look for a wobbly beginning to 2008, with oil prices and the fallout of the subprime mortgage ...
ROBERT C. GILLOOLY.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Davis D. Janowski ROBERT C. GILLOOLY, Principal and managing director, Osborne Partners Capital Management, San Francisco Assets under management: $800 million Forecast for 2008: With banks imposing tighter credit standards and fewer ...
SEC to continue assault on fiduciary protection in 2008; Other voices.(Viewpoint)
Jan 07, 2008 ... Byline: Diahann W. Lassus Despite the U.S. Court of Appeals' recent rebuke of the SEC in Financial Planning Association vs. Securities and Exchange Commission, the regulator appears ready to continue to reduce the fiduciary protections afforded by the Investment Advisers Act of ...
Advisers ponder whether to sell annuities; Guaranteed income is aim, but delivery is the question.(News)
Jan 07, 2008 ... Byline: Darla Mercado Now that annuities are becoming accepted as part of an overall retirement income program, fee-only planners are wondering whether they should sell the products themselves or refer sales to outside agents. "There's more pressure brought to bear'' ...
Closing quote.(Short Interests)
Jan 07, 2008 ... "Putnam's track record won't allow for forgiveness. They have already used their mulligan.'' -Howard Schneider, ...
At the bell.
Jan 07, 2008 ... Schwab unit joins tech consortium Schwab Performance Technologies Inc. has joined YourSilverBullet.net. The Raleigh, N.C., subsidiary of the San Francisco-based Charles Schwab Corp., which creates back-office software for registered investment advisers, became the ...
Going small is fund's secret to finding hidden gems; But managers aren't afraid to cut their losses when necessary, despite liquidity constraints.(Street Wise)
Jan 07, 2008 ... Byline: Jeff Benjamin The basic premise behind the management of the Managers AMG Essex Small/Microcap Growth Fund (MBRSX) is finding good companies that few other analysts have yet to identify as prospects. "We want to identify growth early, wherever it is coming ...
Schwab looks to buy more tech vendors; Plan seen as a way to attract wirehouse reps.(News)
Jan 07, 2008 ... Byline: Brooke Southall Schwab Institutional will seek to acquire or partner with more technology vendors, a strategy that follows a doubling in the company's tech budget in 2007. Last year, the San Francisco-based company spent $55 million on technology, up from $23 ...
ROBERT C. POZEN.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Sue Asci ROBERT C. POZEN, Chairman, MFS Investment Management, Boston Assets under management: $204 billion General outlook: The year closed with continued fallout from the subprime debacle, market volatility and speculation about ...
Grandparents investing billions for grandkids; Wealthy seniors are making investments directly.(News)
Jan 07, 2008 ... Byline: Liz Skinner Today's grandparents are spending about $50 billion a year on their grandchildren - with about $25 billion of that going toward investments, a recent survey has found. "Grandparents say that grandchildren are essential to their lives and investing ...
Advisers' resolution for 2008: Get organized; Going paperless, buying file cabinets are top choices.(News)
Jan 07, 2008 ... Byline: Liz Skinner While it's unclear where the financial advisory industry stands on the No. 1 New Year's resolution of losing weight, some professionals are promising to focus on organizing in 2008. Technology will be used to improve business processes, with the ...
Wealthy want to give, study shows; Volunteerism, 'making a difference' valued.(News)
Jan 07, 2008 ... Byline: Aaron Siegel While still focused on providing themselves with a comfortable retirement, most Americans with at least $1 million in investible assets also want to be generous and help others, according to a study released last month by Wells Fargo Private Bank of San ...
New cap on 12(b)-1 fees may be on the horizon; SEC seeks to level playing field, takes issue with sales charge.(News)
Jan 07, 2008 ... Byline: Sara Hansard The SEC is looking at capping the 12(b)-1 marketing and sales charge fees that fund investors pay and is preparing to issue a proposal early this year concerning the approximately $12 billion a year paid in such fees. The regulatory authority ...
Pax fund focuses on firms that empower women.(Short Interests)
Jan 07, 2008 ... Byline: Sue Asci A woman's place is in the House and Senate, said the late feminist and congresswoman Bella Abzug. Today, include the marketplace as well. "We are living in a time when people are beginning to realize that gender inequality holds back economies, holds ...
More than a game.(Short Interests)
Jan 07, 2008 ... Byline: Sara Hottman Are you a saver? A spender? Do you want to burn money to make money, or play it safe and save? The Millionaire Maker Game is a finance strategy board game that reveals players as spenders, savers, risk takers or play-it-safers by exploring their ...
Americans' income is mobile, Treasury finds.(News)
Jan 07, 2008 ... Byline: Sara Hansard The richest Americans don't stay on top forever, and the poorest aren't stuck at the bottom, according to a recent study by the U.S. Trreasury Department on income mobility. Only 25% of Americans in the top 0.01% of the nation's earners in 1996 ...
Roth conversion opportunities; Beware of the differences in what the law and specific plans allow.(IRA Alert)
Jan 07, 2008 ... Byline: Ed Slott Beginning this year, a provision of the Pension Protection Act of 2006 allows participants to convert funds in 401(k)s and other company plans directly to a Roth IRA. Until now, plan participants had to roll funds over to a traditional IRA first and ...
JIM ROSS.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: David Hoffman JIM ROSS, Senior managing director, State Street Global Advisors, Boston Assets under management: $2 trillion General outlook: Smaller ETF providers may be absorbed by larger providers in 2008, said Mr. Ross, explaining ...
DESPITE TURMOIL, NO RECESSION EXPECTED; 64% of advisers anticipate improvement in credit markets.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Jeff Benjamin The cloud of uncertainty hanging over the economy and the financial markets is a manageable challenge in 2008, according to the findings from an InvestmentNews survey of advisers. Despite a number of comments that suggest the importance of ...
DOUG HERRING.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Lisa Shidler DOUG HERRING, President, American Beacon Advisors Inc., Dallas Assets under management: $69 billion General outlook: Mutual funds and, in general, defined-contribution plans will have another great year, Mr. Herring said. He ...
ELISSE WALTER.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Sara Hansard ELISSE WALTER, Senior executive vice president for regulatory policy and programs, Financial Industry Regulatory Authority Inc., New York and Washington General outlook: Financial services industry issues are going to be consistent ...
Growth or value for retirement? The answer depends on whether markets are rational or irrational.(Investment Strategies)
Jan 07, 2008 ... Byline: William Reichenstein For long-term investors, what approach to equity investing in retirement accounts makes the most sense, growth or value? While the data clearly favor value, the rationale is subject to debate. Let's look at the facts. Over the ...
The week ahead.(Short Interests)(Calendar)
Jan 07, 2008 ... Jan. 7 The Practising Law Institute's two-day seminar, Understanding the Securities Products of Insurance Companies 2008, begins today in New York. A report on the amount of net stripping of Treasury securities is due out at 3 p.m. ET. Jan. 8 ...
Putnam hurt by exposure to financials; Some of firm's biggest funds suffer due to investments in Bear Stearns and Countrywide, among others.(News)
Jan 07, 2008 ... Byline: David Hoffman Putnam Investments is paying the price for calling the bottom in financial stocks too early. Performance among the Boston-based firm's domestic-equity mutual funds - particularly those that invest in large-capitalization equities - has suffered ...
Firms may need to add advisers before demand materializes; Better to be proactive to meet clients' needs than caught short, some say.(News)
Jan 07, 2008 ... Byline: Liz Skinner To attract their share of the additional $5 trillion in investible assets that Americans are expected to accrue over the next five years, successful advisory firms should be adding advisers and support personnel now. "Firms need to create capacity ...
IN events.(Short Interests)
Jan 07, 2008 ... Feb. 13 Webcast: What Female Business Owners Want From Advisers Register to listen to our panel of leading female entrepreneurs discuss how financial advisers can win them over and retain their business, which services they need most and how advisers can help them reach their ...
Subprime chaos, credit crunch recast alternatives; Emphasis is shifting to management skills.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Jeff Benjamin One way or another, the fallout from the subprime mortgage meltdown and the broader credit crunch is expected to alter the complexion of the alternative investments industry in the year ahead. "We will see some hedge fund liquidations as a direct ...
SCOTT A. ARMIGER.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Aaron Siegel SCOTT A. ARMIGER, Vice president, Christiana Bank and Trust Co., Greenville, Del. Assets under management: $300 million Forecast: Now that the Fed has cut interest rates by 1 percentage point in the last four months, it is ...
Money managers' profit from retirement plans to fall; Wealthy clients likely to make up for the shortfall, says report.(News)
Jan 07, 2008 ... Byline: Douglas Appell Retirement plans will be a dwindling and less profitable source of new business for money managers over the next five years, with rich investors the likeliest group to fill the gap, a report from Putnam Lovell predicts. Researchers at Putnam ...
BNY Mellon Asset makes move in emerging markets; Applies 'third generation' growth strategy.(News)
Jan 07, 2008 ... Byline: Mark Bruno Scores of executives talk about globalization, but lately Ronald O'Hanley seems to be living it. Last month alone, Mr. O'Hanley, president and chief executive of New York-based BNY Mellon Asset Management, completed deals to form a joint-venture ...
Boomers rue lack of retirement planning; Most would wish for a 'do-over,' and start to save sooner.(News)
Jan 07, 2008 ... Byline: Liz Skinner If offered a chance to travel back in time, many baby boomers would change their planning strategy for retirement, according to a new survey. Most expressed a wish for a "do-over,'' with more than a quarter saying they would tell their younger ...
Advice market is a muddle, SEC study finds; Differences between advisers, brokers widely misunderstood.(News)
Jan 07, 2008 ... Byline: Sara Hansard Investors and investment professionals are confused about the differences between investment advisers and broker-dealers. That is one of the findings of a 191-page report by the RAND Corp. of Santa Monica, Calif., that the Securities and Exchange ...
Profit sharing at Edwards will get ax; Wachovia's move to replace plan could spur defections.(News)
Jan 07, 2008 ... Byline: Dan Jamieson Wachovia Securities LLC will discontinue A.G. Edwards' lucrative profit-sharing plan this year, a move some say could contribute to more defections of Edwards producers. After June of this year, the St. Louis-based A.G. Edwards & Sons Inc.'s ...
Prime numbers.
Jan 07, 2008 ... Go figure $226.9B- :The drop in mutual fund assets in November. Fund assets stood at $12.076 trillion Nov. 30, down 1.8% from $12.303 trillion Oct. 31. Source: Investment Company Institute $10.9M: The severance pay Mitchell H. Caplan, the former chief executive of ...
Economy, investors brace for a bumpy ride.(Viewpoint)
Jan 07, 2008 ... The first day of trading in the new year should have served as a warning to investors that 2008 will likely be a tough year for the economy and for investors. Unfortunately, many investors may still be recovering from New Year's celebrations, or, if they are alert, remain frozen in the ...
DC business seen consolidating in '08; Advisory firms may join recordkeepers as targets.(News)
Jan 07, 2008 ... Byline: Lisa Shidler Consolidation in the business of managing and serving defined contribution plans is likely to pick up this year - and advisory firms could be part of the mix. In December, The Hartford (Conn.) Financial Services Group Inc. made moves to buy three ...
Regulatory loose ends move to front burner in new year; From B-Ds to insurance, hot buttons abound.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Sara Hansard Controversial debates of prior years will be revived this year, financial services industry officials expect. The issue of fair play between brokers and advisers could turn into a battle over establishing a self-regulatory organization over ...
FEE DISCLOSURE, 401(K)s HIGHLIGHT RETIREMENT FOCUS; Though wary, advisers expect new target-date funds.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Lisa Shidler This year, the retirement industry will see heightened scrutiny on fee disclosure and an anticipated increase in automatic enrollment in 401(k) plans. Although advisers still have concerns about them, target-date funds will remain popular, and ...
K. SEAN CLARK.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: David Hoffman K. SEAN CLARK, Chief investment officer, Clark Capital Management Inc., Philadelphia Assets under management: $1.3 billion Forecast: The market will struggle early, but pick up toward the end of 2008, much as it almost ...
Advisers may benefit from XBRL shift; Start-up companies will gain new tools with language change.(News)
Jan 07, 2008 ... Byline: Davis D. Janowski If advisers haven't heard of extensible business reporting language, or XBRL, they soon will. The data standard, which came into existence almost a decade ago, is now part of a pilot project for reporting financial and business information ...
Cost of care for elderly climbed in 2007.(Short Interests)
Jan 07, 2008 ... Byline: Darla Mercado The cost of nursing-home and in-home care from Medicare-certified providers leapt during 2007, according to data from New York Life Insurance Co. Nursing-home-care costs jumped about 3%, while in-home care climbed 12% from 2006. The average cost ...
MICHAEL A. YOSHIKAMI.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Darla Mercado MICHAEL A. YOSHIKAMI, Founder, president and chief investment strategist, YMCNET Advisors Inc., Walnut Creek, Calif. Assets under management: $950 million Forecast: The credit crunch will impact the markets for the first ...
CLIFFORD JACK.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Darla Mercado CLIFFORD JACK, Executive vice president and chief distribution officer, Jackson National Life Insurance Co., Lansing, Mich. 2008 chairman, NAVA, Reston, Va. General outlook: Where 2007 was the year variable annuities came ...
JEFF KNIGHT.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Sue Asci JEFF KNIGHT, Chief investment officer of the global-asset-allocation team, Putnam Investments, Boston Assets under management: $185 billion Forecast: The stock market is not likely to give investors middle-of-the-road ...
BOB ROWE.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Lisa Shidler BOB ROWE, Managing partner and majority owner, Enhanced Investment Partners LLC Senior vice president and senior consultant, Rowe Consulting Group, an affiliate of Raymond James & Associates Inc., Chicago Assets under management: $250 ...
MARK E. JOHANNESSEN.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Aaron Siegel MARK E. JOHANNESSEN, President, Financial Planning Association, Denver Managing director, Harris SBSB, McLean, Va. Assets under management: $2 billion General outlook: "It's hard to be anything but optimistic ...
KAREN SCHAEFFER.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Jeff Benjamin KAREN SCHAEFFER, Outgoing chairwoman, Certified Financial Planner Board of Standards Inc., Washington, D.C. President, Schaeffer Financial LLC, Rockville, Md. Assets under management: $61.5 million General outlook: ...
KEITH HARTSTEIN.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Jeff Benjamin KEITH HARTSTEIN, President and chief executive, John Hancock Funds LLC, Boston Assets under management: $54 billion Forecast: Issues related to the subprime mortgage mess and the overall credit crisis will be "yesterday's ...
ERNIE ANKRIM.(Special Report: Outlook 2008)
Jan 07, 2008 ... Byline: Brooke Southall ERNIE ANKRIM, Chief investment strategist, Russell Investments, Tacoma, Wash. Assets under management: $230 billion General outlook: "I'm more optimistic than the consensus. The growth rate [in 2008] will be zero, not ...
Glee over AMT relief may be short-lived; IRS delays in revising tax forms will affect preparers, refunds.(News)
Jan 07, 2008 ... Byline: Sue Asci While millions of taxpayers are relieved that they won't have to pay the alternative minimum tax this year, tax preparers are dismayed to face a narrower window due to delays in updates of the IRS' tax forms. Congress passed legislation on Dec. 19 ...
Pitt helping to create securites lending firm; Ex-SEC chairman attempting to generate revenue for lenders.(News)
Jan 07, 2008 ... Byline: Jay Cooper Former SEC Chairman Harvey Pitt is helping launch a new securities lending exchange that aims to provide greater transparency and generate more revenue for lenders such as pension funds. The exchange, called LENDEX LLC and based in Jersey City, ...
Merrill adds new trading-error policy; Brokers will pay into 'insurance' fund.(News)
Jan 07, 2008 ... Byline: Dan Jamieson Merrill Lynch has implemented a new policy covering trading errors. The firm has set up what brokers say is a system of "self-insuring'' against mistakes. Brokers are put into one of four risk groups based on their error rates over the ...